2023 Laws not yet authenticated through a Commencement Order

Revised Laws of Saint Lucia (2023)

15.   Sums payable by mortgagor to mortgagee before mortgage executed

On or before the execution of the approved mortgage the mortgagor shall pay to the mortgagee such a sum as will be sufficient to discharge—

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    (a)     the ground rent, if any, and the estimated amount of all rates, taxes, special assessments and fire and other hazard insurance premiums for the period beginning on the date up to which such ground rent, rates, taxes, assessments and fire and other hazard insurance premiums were last paid and ending on the date on which the next monthly payment is due under the mortgage; and

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    (b)     the first annual insurance fee payable by the mortgagee under section 14(1) of the Act, where a provision is contained in the mortgage under regulation 13(6)(a).